Bank of New Zealand.

Taranaki Herald, Volume XLVII, Issue 11287, 4 August 1898, Page 2

Bank of New Zealand.

ORDINARY GENERAL MEETING

'<•'•' ;'; ' [PER PRESS- ASSOCIATION. | Wellington, August 4.— The ordinary general j^mee ting ; of, 5 the. Bank of New Zealand takes place this afternoon. la his 4i addreßßJ"'Mr'l7atßon, the President, p'oiutsout that the earning power of tbe Bank for the last year was not bo good by ( £4000 as in the previous tear, which is -'quite accounted for by the unusual course of Australian exchange with Europe, and the low rates which ruled for certain clues-s of .advances. So far as can be ascertained from the present outlook, a recovery of taming power is likely to be made in tho current year. Last year the • Bank's profits, before providing for bad debts, were £235,000 ; this year they .are £121,000. Of the second call of £500,000 on reserve liability £393,042 had- been collected up to 31st , March. Ordinary local deposits,- both current and fixed, have remained f steady. The statement that it was proponed to spend £50,000 on a new bank building in Wellington is emphatically denied. The directors never contemplated spending even as much as £30,00U on a building. • The Board is realising its trading concerns at the earliest possible opportunity, but decline? to sacrifice properties' at the ruinously low prices which are from time to time offered. 1 he. Board is now in treaty for the sale of several of the more 'important of the traoiDg concerns, ,

The Financial Statement is expected to be delivered on Friday. Wou't the newspapers bless the Colonial Treasurer for inflicting it on them>at the end of the week!

The U S.S. Co's Janet Kicftll, Capt Rayan, takes the Taupo's run and leaves Dunedin to-day for this port via way ports, arriving Jiere on Thursday next. Upon discharge of cargo the vessel proceeds to Greymouth and Westport.

We would draw attention to the large sale of fruit and shelter trees by Mr Newton Kiug at the Haymarket on Saturday on account of Mr Thos. Lock. A large numb r of the well-known Burbank Plum trees are included in the consigns ment, besides serveral other reliable varieties.

By the mail this (Thursday) morning Mr W. H. Skinner received an elaborate coloured copy of the arms and mottoes of the Royal Engineers, prepared at the School of Military Engineering, Chatham, and forwarded by the A gent-General. Mr Skinner also received a letter from Major A. P. Poulton, of the 12th regiment (Suffolk), the officer commanding the Bury St. Edmunds District, covering a copy of the regimental colors forwarded from the head-quarters of the regiment at Malta. Major Ponlton writes :—": — " We, as a regimeut, much appreciate your kmdnfcsa in setting apart the offertory for 'the hatchments to the memory of those who fell in the New Zealand war, and among whom were some of our own regiment."

The question of the harbour sand difficulty has been agitating the minds of the public so much lately, that the members of the Young Men's Debating Club determined that they would settle it so far as they were concerned. Accordingly the question came up on Wednesday evening, headed by Mr W. H. Skinner in favour of dredging, and by Mr A. M. MacDiarmid in favour of the gap. Mr Skinner had prepared some diagrams to illustrate his views, and after the openers had spoken, Messrs Beal, W. Yates, P. Hopkin?, Malfroy, Budd, W. Butler, Dempsey, Dutton, and B. Uarthew spoke upholding Mr Skinner's views, while Messrs P. White, P. R. Oarthew, W. Brown, Treeby, B. Beckett, T. Butler, and Barnitt were in favour of the gap. The time bad to be extended to 9. 15, and on being put to the meetiug the motion in favour of dredging was carried. Membeis will please note that the subject for next evening is extempore speecnes, und not the Parliamtatary evening as on the syllabus.